The cross rose to the highest level in nearly two months on Thursday, as pound is weighed by negative interest rate talks and conflict in UK/EU trade talks.
Fresh extension higher (following Wednesday's 0.6% advance which eventually broke above the top of thinning daily cloud) broke above pivotal Fibo barrier at 0.8987 (38.2% of 0.9498/0.8670) and cracked psychological 0.90 resistance.
Better than expected UK PMI's inflate pound but so far without stronger negative impact on bulls.
Positive daily studies underpin the rally which needs close above 0.8987 to confirm positive signals, generated on break above important technical barriers, with targets at 0.9084 (50% retracement) and 0.9100 (round-figure) coming in focus.
Broken daily cloud top (0.8931) needs to hold downticks to maintain bullish bias.

Res: 0.9029; 0.9084; 0.9100;0.9182
Sup: 0.8961; 0.8931; 0.8890; 0.8863


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex Analysis

Editors’ Picks

When is Japan’s data-dump and how could it affect the USD/JPY?

While the risk catalysts have recently been lighter, mainly due to the equities’ upbeat performances, the underlying fears aren’t yet wiped out. Technically, buyers keep targeting the 108.05/10 area comprising multiple highs marked since April-19.

Read more

AUD/USD: Upside momentum again fizzles around 11-week top, still above 0.6600

Having marked yet another failure to stay strong beyond 0.6650, AUD/USD remains depressed around 0.6640/35 at the start of Friday’s Asian session.Risk-tone remains positive as equities cheer hopes of further stimulus, economic restart.


Goldman Sachs puts Bitcoin on par with Gold

One of the world's largest investment banks, Goldman Sachs, announced a conference for its clients entitled “Implications of Current Inflation, Gold and Bitcoin Policies”

Read more

Gold: Limited gains below the $1730/oz level for XAU/USD

After bouncing from the 1690/1700 price zone XAU/USD is stalling below the 1730 resistance and the 50 SMA on the four chart. The picture is mixed as it seems the metal is challenging a tough resistance near the 1730 level.

Gold News

WTI oil prices rally on gasoline demand and hopes of output cuts’ extension

WTI crude oil prices have appreciated more than 5% on Thursday to reach $34 and approach two-month highs. Investors' optimism about an increase of gasoline demand and speculation of an OPEC+ deal to extend output cuts are driving crude prices higher.

Oil News

Forex Majors